Blog & Newsroom

Zinner & Co. Sponsors the Magic of Lights for 2019

Zinner & Co. Sponsors the Magic of Lights for 2019

by | 10 Dec | ,

Zinner & Co. is pleased to continue its support and sponsorship of the Magic of LightsTM, being held at the Cuyahoga County Fairgrounds in Berea, Ohio from November 27, 2019 through January 4, 2020.

Magic of LightsTM has become a yearly tradition for many Northeast Ohio families who marvel at magic-logo-sponsorthousands of decorative displays and interactive holiday lights. There are also fun activities for all ages, such as the Jolly Holiday Village, which is an exciting experience where guests can exit their cars to take photos with Santa, decorate snowmen, watch classic holiday movies, play games, enjoy hot chocolate and other seasonal treats, and much more! 

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Governor Signs Tax Break for Teachers, Attorneys and Lobbyists into Law

Governor Signs Tax Break for Teachers, Attorneys and Lobbyists into Law

by | 10 Dec | , , ,

Governor Mike DeWine has signed a bill into law that will allow Attorneys and Lobbyists to take the Business Income Deduction (BID) deduction.The law was backed by the Ohio Society of CPAs, and was viewed as a fix to a part of the biennial budget that was thought to be unfair in its treatment of two specific professions. OhiostateSealofOhio

As we wrote about when the bill first passed the General Assembly of the House in October, the law, in part, allows lawyers and lobbyists to take the same deductions as other types of pass-through entities. The law also contains two other provisions of note:

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IRS Announces Inflation-Adjusted Standard Deduction Amounts for 2020

IRS Announces Inflation-Adjusted Standard Deduction Amounts for 2020

by | 10 Dec | , , ,

The IRS issued its annual inflation adjustments for key tax items for the tax year 2020. Among them are new amounts for standard deductions.irs-sign-for-newsletters

For the tax year 2020, the standard deduction for a married couple filing jointly will be raised from $24,400 to 24,800. For single taxpayers and married couples filing separately, the standard deduction will be raised from $12,200 to 12,400. For heads of households, the standard deduction will be $18, 650.

Margin tax rates will change as follows:

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The Equifax Data Breach – What you need to know now

The Equifax Data Breach – What you need to know now

by | 12 Nov |

On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that, according to the Wall Street Jurnal, exposed vital personal identification data — including names, addresses, birth dates, and Social Security numbers — on as many as 143 million consumers, roughly 55% of Americans age 18 and older.
Cleveland CPA firm Zinner & Co helps people who may be victims of identity theft.jpeg

This data breach was especially egregious because the company reportedly first learned of the breach on July 29 and waited roughly six weeks before making it public (hackers first gained access between mid-May and July) and three senior Equifax executives reportedly sold shares of the company worth nearly $2 million before the breach was announced.

DOWNLOAD: FREE Ebook – Income Tax Return Fraud and Identity Theft

Moreover, as CNN points out, consumers don’t choose to do business or share their data with Equifax; rather, Equifax — along with TransUnion and Experian, the other two major credit reporting agencies  — unilaterally monitors the financial health of consumers and supplies that data to potential lenders without a consumer’s approval or consent.

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Ask the Expert: What Does ‘Like-Kind’ Mean in a 1031 Exchange?

Ask the Expert: What Does ‘Like-Kind’ Mean in a 1031 Exchange?

by | 12 Nov | , , , ,

Q: What Does ‘Like-Kind’ Mean in a 1031 Exchange?

A: As you are probably aware, a 1031 Exchange refers to a provision in the U.S. tax code, which allows real estate investors to sell or dispose of a piece of real property and purchase another piece of “like-kind” property without incurring any short-term tax consequences. But what does like-kind mean? read more…

About Us

Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.

Recent Blog Posts

New changes abound for IRS in 2023, but one problem remains – backlogs

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Krantz named 2022 Cleveland Jewish News Difference Maker

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Cleveland Jewish News recently named Zinner & Co. Partner Susan Krantz, CPA, CGMA, one of 18 Difference Makers for 2022.  Krantz joined Zinner & Co. in 1990 and was named a partner in 1999. She possesses over 30 years of experience in audit and...

2023 Health Savings Account Limits

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